Information Age Case Study

1. The information age is most certainly the age of technology we are currently at in society—facts and knowledge are readily available at all times, whether that would be on our computers, smartphones, or even our automobiles. It is defined by the fact that knowledge is constantly available at our fingertips. There are four main elements of the information age:

Data. Data are “raw facts” of events or objects that provide either a measurement or help in decision making (Baltzan, 2015, p. 6). For example, a cost accountant can use data extrapolated from a computer application that can point to how a company can become more efficient. This brings up the next element of the information age:

Information. This is when data is used in a useful manner. The accountant uses the data as information for the decision to increase logistic efficiency by limiting the number of days inventory is shipped out. When information is collected from multiple sources for strategic decision making, it becomes:

Business Intelligence (BI). BI manipulates numerous variables from different sources to help decisions be properly made with the right data to back it up. For example, the cost accountant may use information from the logistics department, weather

Systems thinking is how a business can thoroughly monitor every step of its system, from input, to processes, to output. Management information systems (MIS) incorporates systems thinking as a whole across a business in order for companies to function together across the board (Baltzan, 2015, p. 13). Many small businesses use a specific MIS that has been very beneficial called Quickbooks. Although most associate Quickbooks with tax, cash, and accounting information for a business, it can track many different levels of information that would be beneficial for all facets of the business operation and functionaliy. It makes “numbers” communication for small businesses easier, and simpler to understand (Intuit,